‘Challenging’ outlook for shower equipment market
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November 21, 2019
The outlook for the UK shower equipment market at the end of 2019 ‘remains challenging’ according to the Shower Market Report – UK 2019-2023, by AMA Research.
According to the report, market growth will be influenced by the economic environment and consumer and business confidence. Longer term prospects are more positive, with overall market development expected to improve across the review period, following a more subdued performance in the short term.
As the shower market reaches maturity in the UK, AMA reports that there is a significant and ongoing demand for replacement products, with manufacturers offering ‘easy to install and replace’ showering equipment in order to encourage upgrades.
Lifestyle and design trends are also supporting the refurbishment market with the desire for improved style and design in the home. Flexibility, durability and ease of use are also key requirements and are influencing the shift towards higher value products. Digital showers are set to grow at a steady rate in line with the use of digital technology and smart devices around the home in general. This sector will continue to take share from other shower control sectors, particularly mixer showers and power showers.
AMA found that the growing use of the internet has raised expectations and awareness of affordable design-led products. The ‘improve don’t move’ trend continues to drive demand in the RMI sector and upgrades to higher quality shower products. The growth of online retailing means that price comparison is quick and easy, affording these homeowners greater scope and choice.
Moderate to steady growth of 2-4% per annum is currently forecast from 2020 until 2023. Housebuilding volumes are set to remain stable despite the uncertainty currently surrounding the UK’s exit from the EU. Prospects remain positive in this sector and will support demand for shower equipment installed in new build homes.
The information was taken from the Shower Market Report by AMA Research, which is available to purchase now at www.amaresearch.co.uk.
